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Greece's NBG, Alpha Bank Results Lifted By Tax Benefits

Lenders Post Better-Than-Expected Second-Quarter Results

By

Stelios Bouras And

Alkman Granitsas

Aug. 28, 2014 11:55 a.m. ET

ATHENS—Greek lenders National Bank of Greece and Alpha Bank reported better-than-expected second-quarter results Thursday due to the recognition of deferred tax assets that offset their provisions for still rising bad loans.

Greece's market leading bank, NBG, said it had made a €965 million ($1.27 billion) net profit during the three months to June, while rival Alpha said its after tax earnings were €361.6 million in the quarter. That...